IEF Options History — July 2025

In July 2025, IEF traded between $93.91 and $95.28. ATM implied volatility averaged 6.7%, placing in the 8.8% IV rank vs the trailing year. The 30-day expected move averaged 1.9%. IV traded above realized volatility by 1.3% (HV 20d: 5.4%). Max pain ranged from $94.00 to $95.00. Net GEX was positive for 22 of 22 trading days. Term structure was in contango for 13 of 22 days. Put/call ratio averaged 2.17.

Notable Days

  • 2025-07-30: Highest Volume — 207,946 contracts
  • 2025-07-03: Largest IV drop — 8.2% change
  • 2025-07-02: Highest IV Rank — 26.5%
  • 2025-07-01: Largest Expected Move — 2.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$94.62$93.91$95.28$95.28$94.94
Max Pain$94.68$94.00$95.00$95.00$95.00
ATM IV6.7%6.3%7.6%7.5%6.3%
Expected Move1.9%1.8%2.0%2.0%1.8%
HV 20d5.4%4.9%6.2%6.2%5.3%
HV 60d6.4%6.0%7.2%7.2%6.0%
IV Rank8.8%0.5%26.5%24.4%0.9%
IV Percentile10.5%0.4%46.4%40.1%0.8%
Term Structure-0.0%-0.3%0.2%-0.3%0.0%
VWIV6.7%6.4%7.3%7.0%6.4%
Skew 25d-0.1%-0.4%0.3%-0.2%-0.1%
Skew 10d-0.2%-0.7%0.7%-0.7%-0.1%
Call IV 25d6.7%6.3%7.7%7.7%6.3%
Put IV 25d6.7%6.1%7.5%7.5%6.1%
Bid-Ask Spread %33.2318.4956.2536.6418.49
Gamma HHI0.180.140.240.240.14
Net GEX83.2M10.2M185.0M185.0M76.3M
Net DEX-186.9M-521.5M16.2M-521.5M-269.1M
Net VEX-3.4M-4.9M-2.7M-3.8M-4.9M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.170.0016.805.580.78
Total Volume26,369.6821,775207,94614,83449,822
Total OI500,157.818448,639566,477448,639524,792

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call VolPut VolCall OIPut OI
2025-07-01$95.28$95.007.5%2.0%6.2%24.4%7.0%-0.2%-0.3%185.0M-521.5M-3.8M5.5836.642,25512,579358,13590,504
2025-07-02$95.05$95.007.6%2.0%6.2%26.5%7.3%-0.2%-0.3%162.0M-449.8M-3.9M0.4038.842,9861,182362,65698,843
2025-07-03$94.72$94.007.0%1.9%5.8%14.0%6.8%-0.1%-0.2%114.2M-294.3M-3.4M0.4734.285,2012,428360,55399,339
2025-07-07$94.47$94.007.0%2.0%5.8%13.9%6.9%0.1%0.1%113.6M-241.4M-3.1M1.8028.243,1475,674356,93992,602
2025-07-08$94.30$94.006.6%1.9%5.0%6.8%6.7%0.1%0.1%83.9M-163.3M-2.7M2.5525.686,98117,795358,31994,940
2025-07-09$94.81$95.006.6%1.9%5.3%5.7%6.5%-0.2%-0.0%118.2M-242.4M-3.1M1.9130.363,9307,506355,937111,377
2025-07-10$94.75$95.006.4%1.8%5.3%1.9%6.4%-0.1%-0.1%99.9M-210.4M-3.0M0.7323.961,186869355,550116,776
2025-07-11$94.30$95.006.6%1.9%5.4%6.6%6.7%0.0%0.0%37.0M-91.1M-2.9M0.4020.6025,33510,097355,930116,839
2025-07-14$94.31$95.006.9%2.0%5.2%11.8%7.0%-0.2%0.1%43.2M-109.6M-3.2M0.1033.1845,8814,379378,012124,944
2025-07-15$93.91$95.006.8%2.0%5.2%11.5%6.8%0.3%0.1%67.3M16.2M-3.2M0.4728.048,7044,086436,166130,311
2025-07-16$94.16$95.006.8%2.0%5.2%11.3%6.8%0.3%0.0%90.5M-65.6M-3.1M0.2536.964,9931,259424,227127,701
2025-07-17$94.13$95.006.5%1.9%4.9%5.3%6.5%0.3%0.2%10.2M-54.5M-3.1M0.7436.214,4203,291426,164128,192
2025-07-18$94.37$94.006.5%1.9%5.0%4.4%6.4%0.2%0.0%44.1M-99.5M-3.0M0.2940.929,9272,849429,534129,416
2025-07-21$94.78$94.006.8%1.9%5.3%10.0%6.8%-0.1%0.0%80.9M-210.4M-3.3M2.7230.051,2753,474356,599115,096
2025-07-22$95.00$94.006.8%2.0%5.2%9.9%6.9%-0.4%-0.1%96.3M-269.2M-3.3M5.3226.336,69735,621357,100116,650
2025-07-23$94.66$94.006.7%1.9%5.1%8.6%6.9%-0.3%-0.0%70.8M-167.5M-3.3M16.8035.641,36822,978361,866126,657
2025-07-24$94.47$95.006.5%1.9%5.2%5.5%6.6%-0.2%0.1%45.8M-56.7M-3.9M0.5438.821,152623362,703148,278
2025-07-25$94.72$95.006.4%1.8%5.1%2.9%6.4%-0.3%-0.1%60.3M-111.7M-3.7M1.4420.725,0997,363363,162148,570
2025-07-28$94.53$95.006.5%1.9%5.2%3.7%6.6%-0.2%0.1%40.9M-51.6M-3.6M0.0256.2525,446467364,274151,042
2025-07-29$95.13$95.006.6%1.9%5.5%6.6%6.9%-0.3%-0.0%117.7M-297.0M-4.2M4.3240.152,2289,634387,250151,380
2025-07-30$94.81$95.006.3%1.8%5.3%0.5%6.5%-0.3%0.1%72.2M-151.7M-4.2M0.0050.73207,607339388,042160,105
2025-07-31$94.94$95.006.3%1.8%5.3%0.9%6.4%-0.1%0.0%76.3M-269.1M-4.9M0.7818.4927,97121,851364,525160,267